One of the world’s biggest crypto exchanges, Binance, is opening its first “fiat to crypto” exchange on Malta – a country which is beginning to stand out in terms of blockchain adoption and fintech in general. This is in addition to their recent announcement about forming a decentralized exchange.

Binance’s founder, Zhao Changpeng, says that they’re close to opening an exchange in the Mediterranean and are forming partnerships with local banks in regards to accepting deposits and withdrawals with no time delays – a big problem problem with current fiat to crypto transfers.

After serious trading restrictions in China, Binance tried to find its place in Japan where they were – among others – issued a warning for operating without a license.

Malta is one of the leading fintech countries right now, and their Institution for Digital Innovation is planning to form a regulatory framework for cryptocurrencies, ICOs and cryptocurrency exchanges. Malta’s government recently invited Zhao to check out their suggestion for an upcoming legal framework considered valid for crypto businesses on Malta. This clearly shows how ready the country is to welcome new technologies with open arms in order to get the most use – and profit – out of collaborating with players as big as Binance.


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